Cash management 2013 Practice paper 2 question 1.4
Deaniedani
Registered Posts: 26
I need help on the cash management level 4 AAT practice paper 2 question 1.4 investment income, the answer is £3575 for period 7. But I don’t know how to work it out to get that answer. Can someone please help?
0
Comments
-
Hey!Deaniedani said:I need help on the cash management level 4 AAT practice paper 2 question 1.4 investment income, the answer is £3575 for period 7. But I don’t know how to work it out to get that answer. Can someone please help?
I totally agree, i am stuggling with this figure also!
Probably a long shot as it was SO long ago but I dont suppose you could help explain this to me?
Thank you in advance for any help you can give.0 -
Hi all
For the investment income you have to add on the percentage figures - 2.8% + 0.5% = 3.3%
Times this by the amount so 0.033 x 1300000 = 42900 - this is the yearly interest so monthly = 42900/12=3575
Can anyone help me get the mortgage payment of £42,000?0 -
Hi,
I can help with that.
To work out the £42,000 mortgage payment figure you need to:
4,000,000 x 90% = 3,600,000 / 120 months (10 years) = 30,000/month (CAPITAL)
3,600,000 X 4% = 144,000/12 months = 12,000 (INTEREST)
Then add these together :-)petitechocoholic said:Hi all
For the investment income you have to add on the percentage figures - 2.8% + 0.5% = 3.3%
Times this by the amount so 0.033 x 1300000 = 42900 - this is the yearly interest so monthly = 42900/12=3575
Can anyone help me get the mortgage payment of £42,000?0
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 12.5K For AAT students
- 318 NEW! Qualifications 2022
- 161 General Qualifications 2022 discussion
- 11 AAT Level 2 Certificate in Accounting
- 56 AAT Level 3 Diploma in Accounting
- 87 AAT Level 4 Diploma in Professional Accounting
- 8.8K For accounting professionals
- 23 coronavirus (Covid-19)
- 272 VAT
- 92 Software
- 273 Tax
- 135 Bookkeeping
- 7.2K General accounting discussion
- 200 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 345 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 582 Job postings
- 16 Who can benefit from AAT?
- 36 Where can AAT take me?
- 42 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 66 AAT membership